Crime of the Week: Cyber Attacks

This week, the Office of National Statistics claims cybercrime to be the most common offence. The new statistics the obsever would publish on Thursday will include cybercrime statistics, which studies show to be at towering levels.

The ONS information showed the number of cyber crimes is from between three and four million yearly. They estimate England and Wales to have the highest number of offences, estimated at 6.8 million.

Compared with industry estimates, the impact could be bigger. Cybercrime could triple as their observation from the previous year reached 12.5 million online offences.

Among those involved are identity theft, "phishing", electronic computer attacks using viruses and malicious software.

One police source conceded this figure will soar when new data emerges on Thursday.

“There are already estimates that the addition of cybercrime will add three to four million offences to the total but it could be much higher than that,” said the source.

“It’s possible it will double, or more.

“There will certainly be a significant increase in crime.”

He added: “Many in the police have said for a long time that traditional crime like burglary have been in steep decline because criminals are going online.

“Finally, the official figures will be recognising that changing pattern.”

You've Probably Heard Of The Sharing Economy! Here Are Three Ways How To Get In!

You've probably heard of Uber, AirBnb and other sharing services that enable those who've invested on some high-end vehicles and properties to earn back the capital they've used for such investments. These businesses are booming and are popularly known as the sharing economy.

The sharing economy earns as much as conventional car rental and property renters do.

But the market is saturated. So where can we go from here? Here are three starting sharing businesses you could try!

Rent Parking Space

Rent your parking space. Yep, that can be done. If you know about JustPark, you could rent out your parking space to other people. JustPark will take a small cut from your profits. The best thing about it is that JustPark will advertise your parking space for any traveller or tourist nearby in need of having their vehicle homed somewhere.

Desks Renting

If you have some spare desks at home, you could try Hubble. Hubble allows you to rent desks from your vacant office spaces. If your home is declared an office space as you're self-employed, you could have some start-ups or freelancers to rent desk space. The profits might come small but hey, those desks are working money for you!

Handbags?

Outrageous as it may sound, you could rent out handbags to women who need a certain bag to go with their outfits for special occasions. Try The Handbag Rental, which would earn you about £30 per day per rent.

Women who love buying bags? Now's your time to shine!

London Job Crisis Worsens With Increasing Rent Prices

According to CBI, London's highly-valued costs of living can harm economic growth. About half of business leaders said the high cost and value of housing has affected the number of low-wage staff in many companies. This had forced out many employees due to higher costs.

Property Organisation CBRE, who contributed to the report, highlights the impact of increasing house prices and rents in London. The average London property rises above £300,000, which is 12 times higher than the average salary of a low-wage Londoner.

The more-affordable option, Renting, has become expensive with boarding expenses costing £2583 monthly in central London. Even a one-bedroom flat now has an exorbitant price.

Fresh graduates for entry-level positions also fear the high rent prices in London. This has become troubling for the UK's service economy, according to Graduate Recruitment Company Instant Impact. According to them, even those with higher positions don't think they would property in London.

CBI said London had relied on creaking infrastructure while failing to build enough homes for London's backbone, which is eating the foundations of all industries in the City. The CBI hopes the next London Mayor improve the situation for London's regular workers.

The Confederate said the problem is not only with London but it may possibly spread throughout the UK, forcing out its workers for better qualities of life. 

Heads Up! We're Headed Straight For A Rate Rise

BoE Governor Mark Carney had laid down clues as of late about the bank possibly increasing interest rates by the end of the year. The Money Advice Trust is right to say that people must organise their finances and prepare for a possible rate rise in the next few months. They warn that people only have a "short window" to organise their finances.

Millions of mortgage holders owned a home as rates fell to historical 0.5% in the last three years.

Meanwhile, Mr Carney has yet to announce the exact time the bank will increase the interest rates. He said it could not be predicted in advance because economic data is still insufficient. Economic analysts believe that it may increase rates during springtime.

Most mortgage holders may face extra costs once interest rates increase. Home loan holders could hit as soon as their current deal during the 'Help to Buy' era has expired. Analysts also find that renters will also find trouble with the increase because private landlords will pass on the costs of paying for the properties and mortgage through their tenants.

Money Advice Trust calls on homeowners and the entire United Kingdom to be worried about spending and take a safety-first approach on debt to avoid any trouble.

Essential Things to Know About Finance This Week

Around the world, different things are happening. The Greek Debt Crisis has spooked many investors and their financial situation will have banks closed until Monday the following week.

In Sydney, the Australian Dollar has grown stronger than the dollar trading at $74.26, up from 73.84 on Wednesday. The share market also opens lower after Wall Street slumps regarding China and Greece worries.

China's stock market had failed to prop up properly, resulting into an alarming situation for Asia countries.

In Brussels , Greek Prime Minister Alexis Tsipras will create a proposal that will include more austerities before its deadline Thursday night. European Union leaders have issued an ultimatum opting to meet post-proposal about a Greek exit from the Euro if Greece will not comply.

Greece is also set to start pension and tax reforms the following week as demanded by its lenders for its third bailout package to save its financial system. Meanwhile, its banks will remain closed until Monday.

In the US, the IMF Managing Director Christine Lagarde pushes for European lenders to push for debt restructuring to allow propping up of Greece's finances.

The United Kingdom faces fresh austerity measures to remove the country's debt as he shows the consequences of ill-payment with Greece as an example. 

Yanis Varoufrakis: Greece Needs Deal Quickly

Along with French President Francois Hollande, Greek Finance Minister Yanis Varoufrakis sets his sights on a faster development of the Greek bailout deal.

Greece and international lenders need to hasten the development of a bailout deal before an end-June deadline to avoid speculation regarding Greece’s future in the Eurozone. According to Francois Hollande:

"There is an end-June deadline," Hollande told a news conference, referring to the end of a bailout program for Greece and repayment deadlines to the IMF.

"This is the latest possible deadline but nothing stops us from going faster and I think it is in Greece's interest to go faster to avoid doubts or speculation. If we want - and all of us, Greeks and Europeans, have said we do - Greece to stay in the euro zone, we must go towards a solution in a timeframe that is not (as late as) the end of the month."

"In order to make progress we must quickly have, in the coming hours or days, technical talks to narrow positions and to replace the proposals Greece cannot accept with alternative measures.”

Yanis Varoufrakis said:

"What we need is an agreement quickly, we need to avert an accident that would be a mistake.

“Greece’s future is in the EU.

"History would take it down as a failure of the political class of the EU ... Doctor Schaeuble, Mrs Merkel, Mr Tsipras, Mr Juncker, the whole political class - we have an historic duty not to allow this to happen.”

The Tories Have One. What Does It Mean For Your Money?

Now that the UK Conservative Party had taken over majority of the parliament’s seats, it’s time to think long term with a better outlook for your finances. So what does it actually mean for you?

According to Yahoo! Finance’s Felicity Hannah’s list, six things could change.

Taxes – will mean Tories would do good to raise personal allowance to £12,500 with an increased 40% tax threshold with £50,000. However, there’s no value-added tax.

Housing Market- first-time home buyers would mean Help-To-Buy ISAs. For every buyer’s deposit in the ISA, they get a £50 state-sponsored top-up for every £200 they save. This allows them to have a maximum payout of £3000.

Pensions- would include new retirement rules which allow 55 year olds and over access to their pension pots without any restrictions. While UK regulators have warned plenty of retirees to watch out for sharks, this should go ahead.

Benefits- Labour and the Liberal Democrats have promised to increase the benefits for UK employees. The Tories have a different plan in mind. They can lower the household benefit cap from £26,000 to £23,000.

Childcare- parents will now receive up to 30 hours of free term-time childcare a week for three to four-year-old kids. 

TheTelegraph.co.uk has another thing in mind. See it here.